Tags: Bittrex

Bittrex Global to halt trading operations globally on Dec. 4, due to legal settlement with SEC and regulatory challenges.

The announcement came roughly nine months after U.S.-based crypto exchange Bittrex said it would shutter operations in response to the country’s regulatory environment.

After facing a lawsuit and subsequently settling with the SEC, a court decision has given Bittrex the green light to leave the United States.

Bittrex Exchange Bankruptcy: Customers Leaving Money Behind – Here‘s the Latest

While Bittrex Global remains exempt from any financial obligation, its US division has agreed to pay a $24 million settlement with the SEC.

William Shihara – co-founder of the company which filed for bankruptcy protection in May – called the settlement plan “a good outcome.”

The U.S. regulator filed a complaint in April claiming Bittrex and William Shihara operated an unregistered exchange, also separately charging Bittrex Global.

SEC’s Crypto Compliance by Enforcement Push Continues as Bittrex Hit With $24 Million Fine

Crypto Investment Firm Paradigm Challenges SEC‘s Jurisdiction in Bittrex Lawsuit

Paradigm’s amicus brief claims that the SEC has overstepped its jurisdiction.

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Rodrigo Seira has blasted the SEC for overstepping its jurisdiction in its case against crypto exchange Bittrex.

A filing in bankruptcy court from Florida‘s Office of Financial Regulation suggested the regulator still had the “administrative discretion” to charge Bittrex.

Mere days after Coinbase went on the attack, Bittrex followed suit.

Bittrex has aligned its arguments closely with those made by Coinbase.

The court left the issue of the subordinacy of government claims open; Bittrex received multimillion-dollar credits from FinCEN and OFAC.

Bittrex US is “authorized to take all actions necessary to effectuate the relief granted” and will honor customer withdrawals on June 15.

US Judge Signs Court Order Allowing Bittrex Customers To Make Withdrawals

US Justice Department Objects to Bittrex’s Plan To Repay Customers in Bankruptcy Proceedings

The hearing on Bittrex’s plan to enable withdrawals is slated for June 14.

Bittrex owes $29 million on penalties for sanctions violations and may still face penalties in a case brought by the SEC.

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